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UK recession deepens as euro zone woes mount
Britain fell deeper into recession than first thought in the first quarter of this year after a sharp drop in construction output, raising the likelihood the Bank of England will need to inject more stimulus to protect the economy from the raging euro zone debt crisis. Britain is in its second recession since the 2007-2008 financial crisis, and the prospects for a recovery are cloudy as leaders in

EU urges Greece to stay in euro, but plans for possible exit

European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the

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European shares set for biggest decline since Nov

European shares weakened on Friday, set for their biggest weekly decline since November, after Spanish banks were downgraded by Moody's overnight and Fitch cut its debt rating for Greece. The

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Euro zone fears propel dollar, shares in red for year

The U.S. dollar climbed, world shares fell and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece's future in the euro zone and

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Germany saves euro zone from recession

Germany pulled the euro zone's economy back from the brink of recession at the start of 2012 but stagnation in France and contraction in southern Europe underlined sharply differing fortunes in a bloc

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No time to waste

The French have chosen a socialist president without any experience of executive power and little taste or knowledge of international matters. When one considers where the certified "experienced"

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